The average pay for a Forecast Analyst is £14.31 per hour.
The average pay for a Forecast Analyst is £27,268 per year.
|Salary||£19,982 - £39,085|
|Bonus||£507 - £9,863|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|£20,562 - £40,049|
Job Description for Forecast Analyst
Forecast analysts support their company's mission planning throughout the year to ensure that marketing, sales, supply, and production initiatives are in accordance with their target estimates. These analysts must evaluate forecast biases to identify and understand variables and root causes and adjust appropriately, and also provide analyses for the accounts, work with monthly operational and sales planning, attend meetings, and develop and maintain relationships with customers to improve forecast accuracy.Read More...
Forecast analysts are tasked with tracking inventory to maximize sales efficiency, determining the best methods for improving forecast accuracy, adjusting forecast models, and ensuring that production consistently meets expectations. In many cases, they work directly with managers and other internal teams to develop plans and projects, and they may attend and participate in internal planning, analysis, and strategy meetings. They also plan new product/service launches and existing product expansions to ensure that production and customer expectations are met.
These analysts must work to ensure the development of demand data based on forecasts, replenishment lead-time, and master data settings, and should be able to multitask efficiently and manage initiatives for multiple customers. Strategic thinking, analytical skills, and assertiveness are important in this position, and they should also have leadership, communication skills, and strong problem-solving skills. A master's degree in a business-related field is generally required for this position, and many employers also require prior experience in the field. (Copyright 2019 PayScale.com)
- Track, analyze, and evaluate operations in order to provide accurate forecasts.
- Suggest workflow/supply chain improvements based on analyses.
- Create regular reports and forecasts, and evaluate past forecasts.
- Acquire and interpret data.
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